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French 10yr breaks the 2024 high

OAT
  • While the initial support in Bund noted at 129.83, printed a 129.82 low has held, the French 10yr Yield edges above the 2024 high, equated to 123.65 in Futures, now highest level since late November.

Looking at Yield, now reference 123.65:

  • 3.228% = 123.31 (24th Nov high).
  • 3.250% = 123.11.
  • 3.300% = 122.64.

OAT/Bund spread is now over 6bps wider, with next resistance seen towards 55.7bps

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  • While the initial support in Bund noted at 129.83, printed a 129.82 low has held, the French 10yr Yield edges above the 2024 high, equated to 123.65 in Futures, now highest level since late November.

Looking at Yield, now reference 123.65:

  • 3.228% = 123.31 (24th Nov high).
  • 3.250% = 123.11.
  • 3.300% = 122.64.

OAT/Bund spread is now over 6bps wider, with next resistance seen towards 55.7bps